5 Things You Should Do When You Get a New Credit Card

5 Things You Should Do When You Get a New Credit Card

Opening the envelope containing your credit card is always a pleasant experience. Printing and opening a letter containing your maximum credit limit is a fun activity for everyone. The new credit card statement gives you more freedom to spend all your dream purchases! However, don't get too excited and remember a few things before you start using your new credit card!

 

Activate your card

The first step is to activate your card, which is a simple two to three step process. Simply call the given number and check your details. You can currently receive an OTP on your mobile number to set your card's PIN. Alternatively, you can register the card in your account through the platform of net banking. Once you have followed all these procedures, be sure to sign the introductory document on the back of your card.

About the importance of signing, there are a lot of opinions, but it is better to do this or you can simply write a directive to someone asking for proof of identity when the card is issued.

 

Destroy old cards

If this is a new credit card from the bank, or if you prefer, erase the old one by cutting the magnetic strip. Either way, get in the habit of destroying the cards as soon as they expire and ask them to replace them. If your current card is a replacement card, make sure your automatic payment settings are transferred.

 

Read the rules and regulations

In addition to the blessed document that holds your card and their limits, there are other documents that are part of the set. Make sure to thoroughly read all of them as they list the rules and regulations that you must follow. While some credit cards have flexible payment rules, many credit cards, especially those which have higher limits, have strict policies and regulations. These documents also contain the rewards system that your card offers you. Understand the process to facilitate cash back and redemption.

 

Spend within your limits, pay at your convenience

No matter how high your credit limit is, be sure to keep an eye on your horse's expenses. To keep your credit score unimpeded, pay your credit card fees in full each month. Not only will this maintain your credit score, but it will positively reflect your credit history & showing that you are a responsible borrower.

 

Check your credit score

Do regular credit checks to see how your score is doing and what you need to do to fix it if needed. GRD India offer you a free report at their provided link www.grdindia.in. When you see suspicious changes in your results, use it to understand where you stand and identify errors or fraud. This way, you will be proactive and report identity theft in a timely manner.

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